Despite the fact that dividends are not expected from the Southern Gas Corridor (SGC) project in 2025 and that SOCAR, the implementing organization of the projects, does not foresee dividend payments in 2026–2029, the Fund has projected revenues of 404.4 million manats for the SGC project in the 2026 budget project.
Elchi.az reports that this was stated in the review of the Chamber of Accounts on the 2026 budget of SOFAZ.
In accordance with the execution of paragraph 1.1 of Order No. 287 of the President of the Republic of Azerbaijan dated February 25, 2014, on some measures related to the second phase of the exploitation of the “Shah Deniz” gas-condensate field and the creation of the Southern Gas Corridor, the Southern Gas Corridor (SGC) Closed Joint Stock Company (the “Company”) was established, with 49 percent of its shares owned by the state and 51 percent owned by SOCAR. According to paragraph 4 of the Order, the ownership and management of the Company’s shares directly owned by the state are carried out by the Ministry of Economy of the Republic of Azerbaijan, and it was determined that dividends on these shares should be transferred to the State Oil Fund of the Republic of Azerbaijan (SOFAZ).